Paluma Dam is managed by Townsville City Council.

The reservoir has a storage capacity of 11,830 megalitres (15,470,000 cu yd).

[3] Water decanted from the dam is piped 4.5 kilometres (2.8 mi) to the Crystal Creek catchment, on the eastern slopes of the Paluma Range.

These increases in capacity were achieved by adding flashboards to the spillway.

The lake and the surrounding national park are used for recreational activities such as camping, hiking, swimming and non-motorised boating.